On Thursday, oil quotations continued to decline after falling by almost 2% the day before against the background of growing reserves in the United States, as well as a decrease in gas prices on Russia's promises to increase supplies to Europe, Interfax reports.
According to the US Department of Energy, commercial oil stocks in the United States increased by 2.35 million barrels last week to 420.89 million barrels.
Stocks at the terminal in Cushing, where oil traded on the NYMEX is stored, increased by 1.5 million barrels last week.
By 8:10 am Kyiv time, December Brent futures fell in price at the London ICE Futures exchange by $0.3 (0.37%) to $ 80.78 per barrel. On Wednesday, Brent fell $1.48 (1.8%) to $81.08 a barrel.
By this time, November WTI futures were cheaper at the New York Mercantile Exchange (NYMEX) by $0.63 (0.81%) to $76.8 per barrel. During the previous session, the contract fell by $1.5 (1.9%) to $77.43 per barrel.
Stocks of gasoline in the United States rose last week by 3.26 million barrels, distillates – decreased by 396 thousand barrels.
“The high non-energy prices are mainly due to a lack of supply, and this is likely to change after the winter,” notes an economist at Oversea-Chinese Banking Corp. in Singapore Howie Lee. "I think the current oil prices are reasonable, but I still doubt that they can rise to $100 per barrel."
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